Simplified Underwriting Excess Disability Insurance

Simplified Underwriting Excess Disability Insurance

When it comes to disability insurance, most consumers prefer simple solutions to heavy-handed, intrusive underwriting requirements. But acquiring sufficient amounts of disability insurance can be challenging and time consuming to both broker and client, although it doesn’t have to be.

Petersen International Underwriters has created the Simplified Underwriting plan to streamline and greatly ease the process of securing excess disability insurance.

Who QualifiesIndividuals who need additional disability insurance and have been approved for and purchased a fully-underwritten, non-cancellable disability insurance policy are eligible for the Simplified Underwriting plan within 90 days of the issuance of the non-can policy.

How It WorksThe Simplified Underwriting plan eases the process of purchasing excess disability coverage by waiving the usual medical underwriting requirements of exams, blood draws and urinalyses.

Saving Time & MoneyBy waiving the need for exams, medical records and laboratory costs, Petersen International is able to reduce the underwriting time by more than half and pass along additional cost savings to applicants in the form of reduced premiums.

©Petersen International Underwriters Simplified Underwriting Disability Insurance - 04-15-2019

Key FeaturesAge Limit 18-60 (Above 60 on a case by case basis)

Maximum Income Replacement 65%

Issue Limit Up to $20,000 per month

Occupation Definition Specialty Own Occupation

Coverage Type Non-Cancellable Term Policy

Policy Term 5 Years

Elimination Periods 90 or 180 Days

Benefit Periods 24, 60, or up to 120 Months

Optional Riders • Residual• Cost of Living Adjustment

Other Advantages

1. Lower Rates2. Available for Business Plans (BOE, Key Person)3. No Medical Exams4. No Medical Records5. Quick Underwriting Decision

Simplified Underwriting Excess Disability Insurance

Subjectivities• The non-cancellable policy must have been fully underwritten.• If the non-cancellable policy has any waivers of conditions and/or ratings, underwriters must agree to use or not

use these waivers and/or ratings prior to policy issuance.

Application Requirements • A copy of the declaration page from a non-cancellable disability insurance policy (issued within the last 90 days).• Simplified Underwriting one-page application form.

©Petersen International Underwriters Simplified Underwriting Disability Insurance - 04-15-2019

This is not intended to be a complete outline of coverage. Actual wording may change without notice. Underwriters reserve the right to modify terms and conditions at time of underwriting.